Insider Buying: CarParts.com (NASDAQ:PRTS) CEO Buys $54,072.32 in Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane purchased 7,552 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $7.16 per share, for a total transaction of $54,072.32. Following the purchase, the chief executive officer owned 219,875 shares in the company, valued at $1,574,305. This represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

David Meniane also recently made the following trade(s):

• On Thursday, August 27th, David Meniane purchased 4,612 shares of CarParts.com stock. The shares were purchased at an average cost of $6.88 per share, with a total value of $31,730.56.

CarParts.com Stock Up 6.6%

Shares of PRTS opened at $7.97 on Thursday. The company has a market capitalization of $64.32 million, a P/E ratio of -1.84 and a beta of 0.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.66. CarParts.com, Inc. has a one year low of $3.72 and a one year high of $13.60. The business’s 50 day simple moving average is $6.02 and its 200-day simple moving average is $6.96.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.42. The firm had revenue of $135.64 million for the quarter, compared to analyst estimates of $129.04 million. CarParts.com had a negative net margin of 5.35% and a negative return on equity of 47.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. State Street Corp lifted its stake in CarParts.com by 13.2% in the 4th quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock valued at $119,000 after acquiring an additional 27,800 shares in the last quarter. Jane Street Group LLC bought a new position in shares of CarParts.com during the 2nd quarter worth approximately $25,000. Renaissance Technologies LLC raised its holdings in shares of CarParts.com by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after purchasing an additional 35,900 shares during the last quarter. Williams & Novak LLC raised its holdings in shares of CarParts.com by 27.7% in the fourth quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock valued at $94,000 after purchasing an additional 40,900 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in CarParts.com during the fourth quarter worth $25,000. 75.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PRTS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CarParts.com in a research note on Friday, July 17th. Royal Bank Of Canada increased their target price on CarParts.com from $5.00 to $6.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $6.00.

About CarParts.com

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.